Rs 100 notes, as well as other currency such as Rs 10 and 5 are not being withdrawn or banned, said the Reserve Bank of India (RBI). The bank has issued a clarification after several reports claimed that Rs 100, 10 and 5 notes would soon go out of circulation. The media reports were based on the statement of an official at a meeting.
Speaking at the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting organised by the District Lead Bank at Mangaluru’s Netravati Hall in Zilla panchayat, Assistant General Manager (AGM) of the Reserve Bank of India (RBI), B Mahesh, as per the reports, had said that the old currency notes of Rs 100, Rs 10 and Rs 5 would eventually go out of circulation as RBI plans to withdraw them by March April 2021.
These reports had lead to several citizens reaching out to RBI for clarification on the matter. Several people also feared that another demonetisation like exercise would take place. However, RBI has denied these reports. “With regard to reports in certain sections of media on withdrawal of old series of Rs 100, Rs 10 and Rs 5 banknotes from circulation in near future, it is clarified that such reports are incorrect,” said the official Twitter handle of the Reserve Bank of India putting an end to all such speculation.